XXXI International Mineral Processing Congress 2024 Proceedings/Washington, DC/Sep 29–Oct 3 271
in Figure 15, illustrating the gap between invention and
successful implementation. Many promising ideas fail to
secure the necessary resources or support to navigate this
valley, resulting in a disconnect between innovation and
commercial success.
Bridging this gap or “valley” requires strategic invest-
ments, collaborative partnerships, and effective technol-
ogy transfer mechanisms to support innovations along
their journey toward market viability. By addressing these
challenges through coordinated efforts between research
institutions, industry partners, and other stakeholders,
promising technologies like the HVP system can success-
fully transition from concept to commercial reality in the
mining sector.
Innovation holds a crucial role in the mining industry,
serving as a catalyst to enhance process efficiency, reduce
costs, and address escalating social and environmental con-
cerns within communities and regulatory bodies (Sanchez
&Hartlieb. 2020). Despite these pressing challenges, the
mining sector has historically lagged behind in technology
and innovation investments. Research and Development
(R&D) expenditures amounted to only 0.5% of revenue
generated from the mining sector (Filipou &King, 2011),
a stark contrast to other industries such as pharmaceuticals
and information and communications technology (ICT)
equipment, which allocated approximately 25.1% and
24.7% of revenue to R&D in 2015 respectively. Moreover,
the average R&D investment in 2015, across all industries
in OECD countries, was 5%, more than ten times the level
of the mining companies (OECD, 2017). The mining
industry has traditionally exhibited caution towards long-
term investments and transformative innovations, resulting
in a relatively low commercialization success rate for inno-
vations due to challenges, including high capital costs, pro-
tracted development timelines, technical complexities, and
regulatory hurdles. Overcoming these challenges remains a
huge challenge for potential innovations.
Australia’s mining sector is a significant contributor
to the country’s economy, accounting for approximately
13.6% of its total GDP in 2023 (U.S. Department of
Commerce, 2024). This substantial contribution has posi-
tioned Australia as a leader in mining innovation, particu-
larly in the advancement and deployment of cutting-edge
mining equipment aimed at enhancing efficiency, safety,
and sustainability within the industry. The Australian
Government further reinforces this commitment to inno-
vation through initiatives like the Resources Technology for
Critical Minerals Trailblazer Program (RTCMT), which is
dedicated to accelerating the development and adoption of
innovative technologies for critical minerals exploration,
extraction, and processing nationwide.
Figure 15. Technology Readiness Level and bridging the technological “valley of death” (www.PWC.no)
in Figure 15, illustrating the gap between invention and
successful implementation. Many promising ideas fail to
secure the necessary resources or support to navigate this
valley, resulting in a disconnect between innovation and
commercial success.
Bridging this gap or “valley” requires strategic invest-
ments, collaborative partnerships, and effective technol-
ogy transfer mechanisms to support innovations along
their journey toward market viability. By addressing these
challenges through coordinated efforts between research
institutions, industry partners, and other stakeholders,
promising technologies like the HVP system can success-
fully transition from concept to commercial reality in the
mining sector.
Innovation holds a crucial role in the mining industry,
serving as a catalyst to enhance process efficiency, reduce
costs, and address escalating social and environmental con-
cerns within communities and regulatory bodies (Sanchez
&Hartlieb. 2020). Despite these pressing challenges, the
mining sector has historically lagged behind in technology
and innovation investments. Research and Development
(R&D) expenditures amounted to only 0.5% of revenue
generated from the mining sector (Filipou &King, 2011),
a stark contrast to other industries such as pharmaceuticals
and information and communications technology (ICT)
equipment, which allocated approximately 25.1% and
24.7% of revenue to R&D in 2015 respectively. Moreover,
the average R&D investment in 2015, across all industries
in OECD countries, was 5%, more than ten times the level
of the mining companies (OECD, 2017). The mining
industry has traditionally exhibited caution towards long-
term investments and transformative innovations, resulting
in a relatively low commercialization success rate for inno-
vations due to challenges, including high capital costs, pro-
tracted development timelines, technical complexities, and
regulatory hurdles. Overcoming these challenges remains a
huge challenge for potential innovations.
Australia’s mining sector is a significant contributor
to the country’s economy, accounting for approximately
13.6% of its total GDP in 2023 (U.S. Department of
Commerce, 2024). This substantial contribution has posi-
tioned Australia as a leader in mining innovation, particu-
larly in the advancement and deployment of cutting-edge
mining equipment aimed at enhancing efficiency, safety,
and sustainability within the industry. The Australian
Government further reinforces this commitment to inno-
vation through initiatives like the Resources Technology for
Critical Minerals Trailblazer Program (RTCMT), which is
dedicated to accelerating the development and adoption of
innovative technologies for critical minerals exploration,
extraction, and processing nationwide.
Figure 15. Technology Readiness Level and bridging the technological “valley of death” (www.PWC.no)